He made these remarks while chairing a regular cabinet meeting for August on the morning of September 6 in Hanoi.

Reporting at the session, Minister of Finance Nguyen Van Thang stated that macroeconomic fundamentals remain stable, inflation is under control, and major balances are ensured. The consumer price index (CPI) for the first eight months rose 3.25% year on year; credit growth remains high; new lending interest rates continue to decline; the gold market management procedures have been completed, officially ending the monopoly on gold bar production.

The stock market and corporate bond market remain vibrant. State budget revenue throughout the reviewed period was estimated at 88.5% of the annual plan (up 28.5% year on year), with revenue from production and business activities reaching 79.9% of the annual plan (up 15.4%), despite tax and fee exemptions and deferrals totaling about VND 187 trillion.

Total registered FDI from January to August hit more than US$26 billion, up 27% year on year; the quality of FDI has improved, establishing a new position for Vietnam in the global R&D network.

Exports reached US$305 billion (up 14% year on year), imports US$291 billion (up 17%), leading to an estimated trade surplus of US$13 billion. Domestic consumption recovered positively, with retail sales and service revenue growing steadily each month, standing at 9.4% year-on-year growth over the eight-month period.

At the meeting, PM Chinh particularly emphasized the need to control gold prices and directed relevant agencies to take immediate action to prevent hoarding, price hikes, artificial shortages, and market manipulation. He called for the State Bank’s inspection teams to engage actively.

He also emphasized the importance of controlling gold prices and regulating exchange rates and cash flow, noting that the key experience is to closely monitor developments and respond promptly, flexibly, and effectively to policies.

Regarding this year’s growth target of 8.3-8.5%, the Government leader urged the revitalization of traditional growth drivers while promoting new ones to ensure comprehensive development across all sectors.

He called for reviewing and cutting administrative procedures, aiming to reduce by 30% the time, quantity, and cost of implementing administrative formalities.

It is imperative to promptly resolve pending projects, as this will increase resources for development, PM Chinh stressed.

After the conclusion of the “80 Years of Independence-Freedom-Happiness” exhibition, he suggested continuing with an “Autumn Fair” to promote production and business linkages, and urgently preparing for a Lunar New Year fair to boost domestic consumption.

The PM also stressed improving social welfare, education, and healthcare, carrying out measures to respond to external shocks, climate change, and natural disasters, and strictly addressing negative phenomena such as market manipulation, hoarding, price gouging, and counterfeit goods.

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